2910 Monroe StLa Porte, IN 46350

For Sale
$1,999,000
Medical Office Building, 7.27% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a 5,932 square foot medical office building located at 2910 Monroe Street, La Porte, Indiana, 46350. The property boasts a brand new 10-year triple net (NNN) lease with Lighthouse Autism Center, a financially strong tenant with a corporate guarantee. This single-tenant occupancy ensures a stable and reliable income stream, further enhanced by a 3% annual rent escalation. The building, constructed in 1995 and classified as Class B, sits on a 2.13-acre lot zoned B1 Neighborhood Commercial. The property features significant upgrades completed in 2024 and offers a compelling 7.27% capitalization rate with a Net Operating Income (NOI) of $145,334 and an asking price of $1,999,000 ($336.99 per square foot). Situated in the Chicago MSA, La Porte offers a blend of small-town charm and convenient access to urban amenities, including proximity to parks, lakes, and cultural attractions. The city's population is 22,241 (2020 Census), and its location along the South Shore train line provides easy access to Chicago. This investment is ideal for those seeking a secure, high-yield property with a long-term lease to a reputable tenant in a growing community. The property is 100% occupied.

Highlights

  • 5,932 SF medical office building, extensively renovated in 2024.
  • Fully occupied by a single tenant.
  • New 10-year lease in place.
  • Annual rent escalations of 3%.
  • Lease backed by corporate guarantee.

Property Details for 2910 Monroe St

Property type
Office properties, Medical offices
Square Feet
5,932 SF
Class
B
Year Built
1995
Lot Size (sq. ft)
92,783 SF
Units
1

Location Insight

City
La Porte
County
LaPorte
State
Indiana
Latitude
41.5997679
Longitude
-86.6913282
2910 Monroe St, La Porte, Indiana

FAQs

What type of property is this?
Office property - Medical Office Building, 7.27% Cap Rate
Where is the office property located?
The property is located at 2910 Monroe St La Porte, IN.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 5,932 SF medical office building, extensively renovated in 2024.; Fully occupied by a single tenant.; New 10-year lease in place.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2910 Monroe St
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